Saigon Jewelry Company gold bar price rose 0.41% to VND146.8 million (US$5,579.63) per tael.
Local bullion rates are down 0.27% for the week and around VND18 million per tael higher than global prices.
Gold ring price also went up 0.41% to VND146.7 million per tael on Friday. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices were on track for a fourth consecutive weekly fall on Friday, as a resilient dollar and expectations of faster U.S. rate hikes to tame inflation kept bullion pressured near the key $4,000-per-ounce level, Reuters reported.
Spot gold was down 0.5% at $4,007.95 per ounce. For the week, bullion was on track for a loss of 3.6%, having slipped below the key $4,000 level for the first time since November 2025 on Wednesday.
U.S. gold futures for August delivery lost 0.6% to $4,024.10 on Friday.
 |
|
Gold bars at a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran |
“The rapid repricing of the hawkish Fed created a strong bullish momentum in the U.S. dollar, which eventually led to this significant downward drift in gold prices,” said Kelvin Wong, a senior market analyst at OANDA.
Gold prices have fallen about 29% from the record high of $5,594.82 on January 29, as inflation fueled by the U.S.-Iran war ramped up rate-hike bets.
Wong sees the multi-month correction in gold extending towards $3,400 in the long term.
Sourcee.vnexpress.net
